TriQuint, RFMD confirm new name: Qorvo

Updated September 19, 2014 at 6:51 AM;Posted September 18, 2014 at 3:21 PM

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TriQuint has 1,000 Oregon employees at its Hillsboro headquarters and factory. The plant's future is one crucial question arising from the deal that's yet to be resolved.
(Fred Joe/Oregonian file photo)

Pronounced "kor-vo," the name is intended to reflect the "core technologies and innovations" the companies plan to enable following their combination.

The name's first syllable is meant to evoke "chorus" -- people working in unison, as well as "core" technlogy. The second syllable, "vo," is meant to indicate voyage or travel through air or space.

U.S. Patent and Trademark Office

TriQuint is one of the largest companies based in Oregon, with roughly 1,000 employees at its Hillsboro headquarters and chip factory. RFMD, headquartered in North Carolina, was a chief rival.

Both TriQuint and RFMD make computer chips for wireless communications. Their products appear in the iPhone and many other smartphones, as well as communications networking equipment.

They announced plans to combine in February, granting stockholders of each company a 50 percent stake in the new business. With a combined market value of $7 billion, it's the largest deal in Oregon tech history.

When the TriQuint/RFMD combination closes, likely sometime later this year, Qorvo will trade on Nasdaq under the stock symbol "QRVO."

The two companies say they haven't settled on a headquarters for Qorvo, and may not make that decision for some time, though RFMD chief Bob Bruggeworth will run the combined business.

Qorvo will also have to decide what to do about excess manufacturing capacity their combination creates. TriQuint and RFMD have suggested they will eventually close either a factory in Greensboro or the one in Hillsboro, but TriQuint CFO Steve Buhaly said earlier this month that both factories will likely remain open into 2017.